StockNews.com Downgrades McEwen Mining (NYSE:MUX) to Sell

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX was downgraded by equities researchers at StockNews.com from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts also recently weighed in on MUX. Roth Mkm lowered their price target on McEwen Mining from $12.75 to $12.25 and set a "buy" rating for the company in a report on Thursday, November 7th. HC Wainwright boosted their target price on shares of McEwen Mining from $15.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, November 7th.

McEwen Mining Stock Up 1.7 %

NYSE:MUX traded up $0.14 on Friday, reaching $8.36. The stock had a trading volume of 342,539 shares, compared to its average volume of 666,046. The stock has a market cap of $442.45 million, a P/E ratio of 3.82 and a beta of 1.43. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. McEwen Mining has a 12-month low of $5.92 and a 12-month high of $12.50. The company has a 50-day moving average of $9.39 and a 200 day moving average of $9.62.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $52.25 million for the quarter, compared to the consensus estimate of $48.60 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. During the same period in the previous year, the business posted ($0.39) EPS. On average, research analysts predict that McEwen Mining will post -0.68 earnings per share for the current year.

Institutional Investors Weigh In On McEwen Mining

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of McEwen Mining by 1.0% during the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company's stock worth $6,074,000 after acquiring an additional 6,082 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of McEwen Mining in the first quarter valued at approximately $1,348,000. Fifth Third Bancorp bought a new stake in shares of McEwen Mining during the second quarter valued at approximately $32,000. Banque Cantonale Vaudoise bought a new stake in shares of McEwen Mining during the second quarter valued at approximately $78,000. Finally, Van ECK Associates Corp boosted its position in shares of McEwen Mining by 3.3% during the second quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company's stock worth $19,448,000 after buying an additional 67,885 shares during the period. 17.03% of the stock is owned by institutional investors and hedge funds.

McEwen Mining Company Profile

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.